Thursday, February 23, 2017

DAY 35: Trump lies about US trade not having surpluses

Donald Trump told to a group of big corporate CEOs that "I'm trying to find a country where we actually have a surplus", referring to trade. That, is, according to Trump, the US has no trade surpluses with anyone.

But tat's a lie. And immediately after he said it, CNBC debunked Trump's lie, as the US has surpluses with half the world. I quote from CNBC:

The U.S., in fact, has a merchandise trade surplus with more than half of the countries in the world, according to the International Trade Commission. A trade surplus means America exports more goods to a country than it imports from it.
Interestingly, according to the data published by CNBC, the US has trade deficits with most of the European Union except for England, Netheralands, Monaco and Belgium. But not once has Trump picked on ANY European country the way he has picked on Mexico.

Which means either Trump is a bigoted liar, or he just has doesn't have a clue about the US economy. Or both.

Oh by the way; in the video at the CNBC link Trump claimed Gary Cohn, a Goldman Sachs executive who was appointed to Trump's economic council, had paid $200 in taxes in order to get the job. He probably refers to the fact that Cohn had to sell his Goldman Sachs stock in order to avoid conflicts of interests. But guess what? By joining Trump's team Cohn actually may have avoided paying taxes on the stock.

As you can see, the swamp is better than ever with Trump in the White House.


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